In its research, Data Protection and Personalization in a Privacy-First World: A Marketer’s Guide on Future-Proofing Data, MMA India (part of MMA Global), the only not-for-profit marketing trade group, revealed some intriguing insights and results.
The paper presents the strategic suggestions made by industry professionals from major AdTech and MarTech companies like Google, Meta, Accenture, AppsFlyer, and Dentsu.
According to a point-of-view essay in the report by Vineet R. Ahuja, Managing Director – Strategy & Consulting, Accenture India & MMA India Board Member, barely 1 in 3 brands can provide personalized offerings or messages, even if the vast majority of consumers are willing to pay more for it.
However, because of rising consumer awareness, stricter laws, and initiatives by digital platforms, concerns about the privacy of consumer data are at an all-time high.
The paper also highlights discussions on the necessity for appropriate consumer data use in today’s world. The desire for personalization of the modern consumer is also addressed, while at the same time respecting their need for privacy.
The MMA believes that to provide customers with better products and services, marketers must today discover ways to ensure that privacy is not an impediment. What is more important is how putting privacy first may help build brand trust with customers. In addition, the paper provides advice on how to boost brand recognition and service quality without endangering consumers’ privacy rights.
Consumers nowadays are becoming more and more careful about how much data they provide with brands, according to Moneka Khurana, Country Head and Board Member, MMA India, who spoke during the report’s introduction. In this article, marketers will learn how putting consumer privacy first when handling data may increase brand trust.
To help brands manage the convergence of the personalization and privacy-driven worlds, MMA publishes papers like this one. Given that customer data is essential for businesses and marketers to use to tailor products and messaging, brands should be better prepared for the future.
The digital fingerprints of customers have grown tremendously over the last few years and will continue to grow at a rapid rate in the years to come, according to Arun Neelakantan, VP-Digital Transformation & Growth, Unilever South Asia, who contributed to this paper. With access to this data, businesses and organizations may more effectively tailor content to the preferences of certain consumers.
Customers want personalization in every interaction. Given that their attention spans are getting shorter, people want to be provided products and materials that are tailored to their interests and that they can quickly filter out.
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